Banking

  • February 04, 2026

    NBA Star Tells Of Fury Over Ex-Morgan Stanley Pal's Fraud

    A former Houston Rockets player on Wednesday testified that he and his former Morgan Stanley investment adviser were the best of friends before he learned of what prosecutors say was a scheme to bilk NBA clients for millions of dollars, and taunted his former financial guru in anger after learning of his arrest.

  • February 04, 2026

    Bessent Says Card Rate Cap's Effects 'Important' To Review

    U.S. Treasury Secretary Scott Bessent declined to say Wednesday whether he supports President Donald Trump's proposed 10% credit card rate cap, instead telling lawmakers that reining in credit card rewards could be a way to address cost concerns.

  • February 04, 2026

    Split NC Panel Rules Adviser Can't Arbitrate Fee Fight

    An investment adviser who was fired can't arbitrate a fee fight with the company he hired to scrub his termination from public databases, a split North Carolina appeals court ruled Wednesday, finding the arbitration clause in his contract doesn't cover the company's claim for nonpayment.

  • February 04, 2026

    DiCello Levitt Taps SEC Vets For Whistleblower Practice

    DiCello Levitt has acquired a boutique practice that represents U.S. Securities and Exchange Commission whistleblowers, bringing on a pair of former SEC attorneys whose clients have helped the government secure more than $2 billion in monetary sanctions, according to the firm.

  • February 04, 2026

    Clemency Was 'Broken' Long Before Trump. Can It Be Fixed?

    President Donald Trump has transformed what has historically been a bureaucratic process for seeking federal pardons and commutations into a more freewheeling affair with few clear rules — and no easy solutions for reform, experts say.

  • February 04, 2026

    Walgreens Says Audio Recording Refutes Shareholders' Claim

    Walgreens told an Illinois federal judge Tuesday that newly discovered evidence warrants revisiting a decision allowing shareholders' claim over an executive's allegedly false statement to move forward, saying an audio recording shows "no basis to conclude the actual statement was false or misleading when made."

  • February 04, 2026

    Fintech Exec Wins Toss Of $150M Fraud Case After Mistrial

    A Massachusetts federal judge Wednesday said she had no choice but to dismiss charges against a former executive over an alleged $150 million credit card payment fraud scheme on double jeopardy grounds following a mistrial last year.

  • February 04, 2026

    TMX Wants $52M Penalty From Pa. Banking Regulators Axed

    A TitleMax affiliate urged a Pennsylvania Commonwealth Court panel on Wednesday to strike down a $52 million penalty that state banking regulators have lodged against it over alleged usury law violations, arguing that the disputed loans it provided to state residents were neither negotiated nor made in the Keystone State.

  • February 03, 2026

    OCC Urged To Scrap Escrow 'Giveaway' To Banks

    Consumer advocates are urging the Office of the Comptroller of the Currency to abandon proposals they say would let national banks unfairly profit off homeowners' escrowed money, warning the plan unlawfully revives a rejected deregulatory playbook.

  • February 03, 2026

    Ex-Fed Adviser Acquitted Of Espionage Conspiracy Charge

    A Washington, D.C., federal jury Tuesday acquitted a former senior adviser to the Federal Reserve Board of Governors of conspiring to steal confidential data for Chinese intelligence.

  • February 03, 2026

    Calif. Cardholders Ask 2nd Circ. To Revive Swipe Fee Suit

    California cardholders accusing Visa, Mastercard and other major banks of conspiring to fix interchange fees have asked the Second Circuit to revive their claims after a district court judge denied their motion for reconsideration in a long-running multidistrict litigation.

  • February 03, 2026

    Wachtell Lipton, Davis Polk Steer $12B Santander Deal

    Wachtell Lipton Rosen & Katz and Davis Polk & Wardwell LLP are guiding Banco Santander SA's $12.3 billion cash-and-stock acquisition of Webster Financial Corp., according to an announcement made Tuesday.

  • February 03, 2026

    SEC Tosses Biden-Era Case Against Wyoming Crypto Co.

    The U.S. Securities and Exchange Commission has walked away from an attempt to block the issuance of a pair of digital tokens offered by a Wyoming-based company, saying that changes in federal policy toward the cryptocurrency industry necessitated an end to the administrative proceedings.

  • February 03, 2026

    Trump Admin Can't Gut CFPB Off The Books, DC Circ. Told

    The Consumer Financial Protection Bureau's employee union has urged the full D.C. Circuit to uphold a lower court order blocking sweeping cuts at the agency, arguing the Trump administration's legal theory for lifting the order would allow officials to dismantle an agency so long as they don't "put it in writing."

  • February 03, 2026

    Ex-BofA Banker Cops To Role In Medicare Fraud Scheme

    A former Bank of America banker copped to a money laundering conspiracy charge Tuesday in New York federal court in connection with a transnational scheme that made over $8 billion in fraudulent Medicare claims for glucose monitors and urinary catheters that were medically unnecessary, according to the U.S. Department of Justice.

  • February 03, 2026

    Mass. AG Sues Bitcoin ATM Co. For Allegedly Enabling Scams

    A major bitcoin ATM operator is facing allegations from the Massachusetts attorney general's office that it does little to prevent customers from falling prey to cryptocurrency scams as it profits from the transactions, in a new complaint filed on Tuesday.

  • February 03, 2026

    OCC's Ex-Chief Of Enforcement Joins Morgan Lewis In DC

    A former acting director of enforcement at the Office of the Comptroller of the Currency has joined Morgan Lewis & Bockius LLP's financial regulatory and enforcement litigation and investment management practices in Washington, D.C., marking his first move into private practice following an extensive career in public service.

  • February 03, 2026

    2nd Circ. Keeps Credit Suisse Collapse Suit Out Of US Courts

    The Second Circuit on Tuesday declined to revive a shareholder suit accusing Credit Suisse and related entities of misconduct leading up to the bank's collapse, holding that a New York judge was not wrong to find that the litigation is overwhelmingly tied to Switzerland.

  • February 02, 2026

    NBA Star Says He Didn't Know Of Ex-Adviser's Self-Dealing

    Portland Trail Blazers star Jrue Holiday on Monday told a Manhattan federal jury that he didn't know that his former Morgan Stanley financial adviser was also on the other side of the NBA star's investment in a $10 million life insurance deal, saying it would have been a dealbreaker if he had known.

  • February 02, 2026

    Wheeling & Appealing: The Latest Must-Know Appellate Action

    What happened to a GOP donor's $250,000 Swiss watch? Can cigarette warnings show jarring medical images? Will a circuit split of "far-reaching importance" for arbitration get even wider? That's a taste of the oral argument menu we'll help you digest in this preview of February's top appellate action.

  • February 02, 2026

    Broker-Dealer Fined $750K Over Text Message Recordkeeping

    Benjamin F. Edwards & Co. Inc. has agreed to a censure and $750,000 fine to settle the Financial Industry Regulatory Authority's allegations that the broker-dealer failed to properly supervise and preserve its employees' business-related text messages.

  • February 02, 2026

    Investment Funds Pro Rejoins Davis Polk From Paul Weiss

    A private funds and investment management regulatory lawyer is returning to Davis Polk & Wardwell LLP as a partner in the firm's New York office after spending nearly four years with Paul Weiss Rifkind Wharton & Garrison LLP, where he served as head of the firm's investment management regulation practice.

  • February 02, 2026

    US Bancorp Beats Suit Over Brokerage Cash-Sweep Program

    A Minnesota federal judge permanently threw out a proposed class action accusing U.S. Bancorp and its brokerage unit of shortchanging customers on interest through a cash-sweep program, finding in part that the bank never promised customers a particular minimum interest rate.

  • February 02, 2026

    Fla. Financial Adviser Gets 20 Years For $94M Fraud

    A Florida federal judge Monday sentenced a financial adviser to 20 years in prison after he pled guilty to orchestrating a Ponzi-like scheme that defrauded $94 million from victims, including the elderly and Catholic priests in Venezuela. 

  • January 30, 2026

    Conn. Justices Free Calif. Woman From Tax Bank Seizure

    The Connecticut Supreme Court ruled Friday that a tax collector cannot recover a shuttered company's debts from a California woman's personal bank accounts, saying the case presented an issue of first impression that has "vexed legal scholars" and "spawned a split of authority" among and within federal and state courts.

Expert Analysis

  • Digital Asset Treasury Trend Signals Wider Crypto Embrace

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    While digital asset treasuries are not new for U.S. public companies, the recent velocity of capital deployment in such investments has been notable, signaling a transformation in corporate treasury management that blurs the lines between traditional finance and the broader crypto ecosystem, say attorneys at DLA Piper.

  • Series

    The Biz Court Digest: How It Works In Massachusetts

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    Since its founding in 2000, the Massachusetts Business Litigation Session's expertise, procedural flexibility and litigant-friendly case management practices have contributed to the development of a robust body of commercial jurisprudence, say James Donnelly at Mirick O’Connell, Felicia Ellsworth at WilmerHale and Lisa Wood at Foley Hoag.

  • What To Note In OCC, FDIC Plan To Standardize Supervision

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    The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp.'s recent proposals to standardize the meaning of "unsafe or unsound practice" and revise the process for issuing matters requiring attention could significantly narrow the scope of activities that spawn enforcement actions, says Brendan Clegg at Luse Gorman.

  • Why Appellees Should Write Their Answering Brief First

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    Though counterintuitive, appellees should consider writing their answering briefs before they’ve ever seen their opponent’s opening brief, as this practice confers numerous benefits related to argument structure, time pressures and workflow, says Joshua Sohn at the U.S. Department of Justice.

  • Questions To Ask Your Client When Fraud Taints Financing

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    As elevated risk levels yield fertile conditions for fraud in financing transactions, asking corporate clients the right investigative questions can help create an action plan, bring parties together and help clients successfully survive any scam, says Mark Kirsons at Morgan Lewis.

  • Series

    Mindfulness Meditation Makes Me A Better Lawyer

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    Mindful meditation enables me to drop the ego, and in helping me to keep sight of what’s important, permits me to learn from the other side and become a reliable counselor, says Roy Wyman at Bass Berry.

  • AI Litigation Tools Can Enhance Case Assessment, Strategy

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    Civil litigators can use artificial intelligence tools to strengthen case assessment and aid in early strategy development, as long as they address the risks and ethical considerations that accompany these uses, say attorneys at Barnes & Thornburg.

  • Post-Genius Landscape Reveals Technical Stablecoin Hurdles

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    The Genius Act's implementation has revealed challenges for mass stablecoin adoption, but there are several factors that stablecoin issuers can use to differentiate themselves and secure market share, including interest rate, liquidity, and safety and security, say attorneys at Olshan Frome.

  • Attys Beware: Generative AI Can Also Hallucinate Metadata

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    In addition to the well-known problem of AI-generated hallucinations in legal documents, AI tools can also hallucinate metadata — threatening the integrity of discovery, the reliability of evidence and the ability to definitively identify the provenance of electronic documents, say attorneys at Law & Forensics.

  • What May Be Ahead In Debanking Enforcement

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    President Donald Trump's executive order on politicized or unlawful debanking has spurred a flurry of activity by the federal banking regulators, so banks should expect debanking-related complaints submitted by consumers to increase, and for federal regulators to look for more enforcement opportunities, say attorneys at Bradley Arant.

  • SEC Crypto Custody Relief Offers Clarity For Funds

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    A recent U.S. Securities and Exchange Commission staff letter supplies a workable path for registered investment advisers and funds seeking to offer crypto custody services by using state trust companies, and may portend additional useful guidance regarding crypto custody, say attorneys at Morgan Lewis.

  • When Atty Ethics Violations Give Rise To Causes Of Action

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    Though the Model Rules of Professional Conduct make clear that a violation of the rules does not automatically create a cause of action, attorneys should beware of a few scenarios in which they could face lawsuits for ethical lapses, says Brian Faughnan at Faughnan Law.

  • What CFTC Push For Tokenized Collateral Means For Crypto

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    The Commodity Futures Trading Commission's recent request for comment on the use of tokenized products as collateral in derivatives markets signals that it is expanding the scope and form of eligible collateral, and could broaden the potential use cases for crypto-assets held in tokenized form, say attorneys at Dechert.

  • H-1B Fee Guidance Is Helpful But Notable Uncertainty Persists

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    Recent guidance narrowing the scope of the $100,000 entry fee for H-1B visas will allow employers to plan for the hiring season, but a lack of detail about the mechanics of cross-agency payment verification, fee exemptions and other practical matters still need to be addressed, say attorneys at Klasko Immigration Law Partners.

  • Indiana Law Sets New Standard For Wage Access Providers

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    The recent enactment of a law establishing a comprehensive regulatory framework for earned wage access positions Indiana as one of the leading states to allow EWA services, and establishes a standard that employers must familiarize themselves with before the Jan. 1 effective date, say attorneys at Faegre Drinker.

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